Home prices continued to rise this summer in all but eight states, including Colorado, which has averaged some of the steepest price drops of any state since June.
Home prices continued to rise this summer in all but eight states, including Colorado, which has averaged some of the steepest price drops of any state since June, according to an analysis from QuoteWizard.
The average price of a home in Colorado has declined by $5,665 or just shy of 1% to $580,275 between the end of June and the end of August,, which used home values from Zillow. That represented the third-largest dollar decline after California, down by $12,205, and Utah, down by $9,917. On a percentage basis, Colorado’s price decline ranks as the fifth largest after Utah, California, Arizona and Oregon.
“Home prices in Colorado increased by 40% in less than two years, so I think what we are seeing now is a little bit of correction. Rising interest rates are tightening the market and I think we are switching from a seller’s market to a buyer’s one,” Nick VinZant, a senior research analyst at the insurance research site, said in an email.
VinZant said he doesn’t see huge declines, and even if home prices fall 5% to 10%, they will remain way above where they were just two years ago. “Watching prices decline can be scary and frustrating for people who bought at the top of the market but remember, we aren’t making any more land, home prices will eventually go back up again and your home is a valuable asset,” he said.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Expanded protections for Colorado mobile-home owners start Oct. 1A new law providing expanded protections for mobile-home owners — but not the key rent stabilization provision that supporters and some legislators had sought — goes into effect Oct. 1.
Baca lebih lajut »
Home prices are still rising. But that might be coming to a swift end.Year-over-year home price growth declined by 2.3 percentage points from June to July, the largest one-month drop in the more than 27-year history of the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.
Baca lebih lajut »
Best Prime Day smart home deals 2022: Will Prime Early Access bring top smart home deals?Prime Day itself may be over, but Amazon has announced a second major shopping event -- called the Amazon Prime Early Access Sale.
Baca lebih lajut »
US home price growth cooled in July at fastest pace since 1980sHome prices in July climbed 15.8 compared with the same month one year ago, a sign that steeper borrowing costs may be starting to cool the housing market.
Baca lebih lajut »
Majority of home buyers and sellers want to live in a state with legal abortionOver 50% of home buyers and sellers say they want to live in a state where there is legal abortion, up from 40% a year ago.
Baca lebih lajut »
Georgia Tech cleans house and Ohio State welcomes LeBron James home - USA TODAY Sports+Poll rankings, Georgia Tech firings and LeBron James playing a college sport dominate the conversation on this week's College Football Fix with DanWolken & PaulMyerberg Listen wherever you get your podcasts:
Baca lebih lajut »